Member LoginMember Login - User registration - Setup as front page - Add to favorites - Sitemap Investors trying to take control of Norfolk Southern railroad pick up key support !

Investors trying to take control of Norfolk Southern railroad pick up key support

Time:2024-04-30 15:37:11 source:Earthly Echo news portal

The activist investors trying to take control of Norfolk Southern’s board are picking up key support, but the railroad’s CEO promised Monday to fight the takeover attempt until a May 9 shareholder vote because he believes his strategy is the best in the long run for investors, customers and workers.

Ancora Holdings’ bid to elect seven new directors and replace management at the Atlanta-based railroad has gained the backing of one of the major proxy advisory firms, one of the railroad’s biggest customers and two of its largest labor unions in recent days.

But CEO Alan Shaw said he believes he still has the support of most of the railroad’s workers, investors and customers.

“The choice really couldn’t be any more clear for our shareholders,” Shaw said an interview with The Associated Press. “We make promises and we’ve continued to keep our promises, and we will continue to deliver. And we’ve got a long-term vision for Norfolk Southern where shareholders win, as opposed to the activists who’ve got a short-term and erratic approach where shareholders lose.”

Related information
  • Ndosho Hospital struggles to cope with influx of patients amid armed conflicts
  • Fiji pins growth hopes on Chinese tourists, plans direct flights from HK
  • Highlights of opening ceremony for China's 14th National Games
  • Xi Focus: Seeking Harmony with Nature, Xi Steers China's Green Transition
  • China continues to provide better travel services for foreign visitors: FM
  • Harry Kane ends England's long wait for a final appearance to end Schmeichel's heroics
  • New railway set to bolster connectivity, development
  • Benitez's Dalian side held to draw by Shanghai Shenhua in Chinese Super League
Recommended content
  • Interview: Nigeria would learn from Chinese model of development
  • Xi Meets Guyanese President
  • China leads gold tally as teenage diver Quan shines at Tokyo Olympics
  • International flight launched between Karachi, Islamabad, Beijing
  • U.S. firms confident in HK rule of law, poll finds
  • Mushroom mania fuels tourism innovation